Generative AI, a rapidly evolving technology, holds immense potential to enhance workplace efficiencies and ignite creativity. According to Sarah Hoffman, Vice President for AI and ML at Fidelity, the technology operates through three key levers: supporting efficiency, fostering creativity, and facilitating learning.
One of the significant advantages of generative AI lies in its ability to streamline collaboration and information sharing within large companies like Fidelity. The technology simplifies workflows by replacing traditional web pages cluttered with tabs with user-friendly text boxes. It can even generate emails for financial advisors, which can be edited by humans to maintain a sense of human authority, effectively combining efficiency and creativity.
Generative AI also proves invaluable in creative tasks like brainstorming. Unlike humans, the technology is not hindered by hallucinations, as any untrue or half-true statement it generates does not go out into the world unchecked. In fact, such statements can even spark creativity and inspire humans to generate new ideas they may not have considered otherwise. For example, while researching generative AI in healthcare, Hoffman discovered new possibilities in mental health scenarios through a conversation with the ChatGPT chatbot.
In terms of job roles, there are contrasting viewpoints: AI either replacing human jobs or augmenting them. Hoffman firmly believes that AI serves as a valuable tool for learning and augmentation rather than a threat. In industries like financial services, where complex jargon is abundant, generative AI helps employees navigate and comprehend the intricacies. Additionally, it can be employed for corporate and personalized training, aiding individuals in identifying their skills and directing them towards new learning areas.
Generative AI’s benefits also extend to personal use. Hoffman shared an anecdote about how she used ChatGPT to gain insights into medical terminology and MRI results, enabling her to have more informed discussions with her mother’s doctor. The technology offers an information-seeking platform free from judgment and impatience. Individuals can ask questions in multiple ways to improve their understanding, mimicking a conversation without the limitations that may arise with human interactions.
Hoffman emphasized the importance of having an internal AI and technology research team to explore trends and make recommendations within companies. She expressed excitement about the potential of generative AI, particularly when combined with other technologies, to address existing gaps and deliver remarkable results. However, she acknowledged the need for human oversight in industries like healthcare and finance, stating that complete reliance on generative AI is still in the distant future.
In conclusion, generative AI presents immense possibilities for enhancing workplace efficiency, fostering creativity, and augmenting human roles. While the technology has its limitations and requires cautious application, its potential to revolutionize industries is undeniable. As the field progresses, businesses must find a balance between leveraging generative AI advancements and maintaining human control and authority.
